[amrocha]

I’ll be clearer. The failure mode that you’re talking about, where debt ratios are so high that a country isn’t able to service its debt, is economically speaking impossible. This isn’t “too big to fail”, it’s the system working as intended.

[mecsred]

I'm not sure why you think that's what I'm talking about, because I never brought that up. In fact I agree with that point. The apparatus will never report a failure because it has an incentive not to. The whole system is built and described in a way to make failure seem impossible because confidence is necessary for it to work. But when numbers and reality don't match, reality wins.

[amrocha]

That’s not what I said at all! There’s no failure being hidden, public deficits are a normal feature of fiat currencies.

[mecsred]

Again, I'm not making any comment on the deficit. Literally never brought it up. I'm talking about people losing confidence in the dollar.